CEO of Goldman Sachs David SolomonHe said the U.S. economy is likely to avoid a significant recession, but warned that inflation could be more persistent than expected. “Over the last 12 months, the chances of having a relatively soft landing and getting through this challenging period have increased significantly,” Solomon said in an interview with Reuters. “The environment is definitely better,” he said.
Solomon also emphasized that the Federal Reserve’s interest rate increases are steps taken to control inflation, but said further measures may be needed.
“My personal view is that inflation will be a little more persistent than more optimistic expectations. “There is still work to be done.”
CEO of Goldman Sachs David Solomon